Morgan Stanley has upgraded MP Materials Corp (MP) to Overweight from Equal-Weight, signaling a more optimistic outlook on the company’s future. This change in rating, effective December 4, 2025, comes as MP Materials continues to engage in the production and marketing of rare earth specialty materials, primarily from its Mountain Pass Rare Earth Mine and Processing Facility in California.
As of the latest update, MP Materials trades at $59.94, with a market capitalization of $10.7 billion. The company, which went public on April 30, 2020, currently employs 804 full-time workers. Its operations are divided into two segments: Materials, which focuses on refined rare earth products, and Magnetics, which is developing a manufacturing facility in Fort Worth, Texas.
The recent upgrade reflects improved analyst sentiment, likely due to better-than-expected performance or confidence in the company's strategic direction. Analyst consensus indicates a Buy rating, with 7 Strong Buy, 14 Buy, and 3 Hold ratings among 24 total assessments.
Looking ahead, MP Materials is set to report earnings on August 5, 2026, with estimates of $0.11 per share and revenue of $127.8 million. This follows a series of better-than-expected earnings surprises, including a 45.1% positive surprise in Q3 2025, where EPS came in at -$0.10 against an estimate of -$0.18.
Such decisions reflect a growing confidence in MP Materials as it navigates the metals and mining sector, particularly in the rare earth market, which is critical for various high-tech applications.